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2017-12-01 11:30:30

CC

Chemours

$50.95

-0.45 (-0.88%)

11:30

12/01/17

12/01

11:30

12/01/17

11:30

Chemours sees adjusted EPS growing 15% or greater CAGR through 2020

Chemours hosted its first Investor Day, as part of which the company updated its 2017 outlook, provided a 2018 outlook and 2020 key financial targets, and unveiled a new capital allocation strategy. Chemours President and CEO Mark Vergnano said: "I am pleased to announce the completion of our five-point transformation plan and the beginning of a new chapter at Chemours. We successfully delivered on our plan, which is expected to result in improved Adjusted EBITDA of over $800 million over 2015 levels and reduced our net leverage down to approximately 2 times...The strength of our portfolio is now expected to deliver full-year 2017 Adjusted EBITDA of approximately $1.4B and more than $100M in Free Cash Flow. "We believe that 2018 will be another great year for Chemours with Adjusted EBITDA expected to be between $1.7B-$1.85B... We also expect to increase our Free Cash Flow to be within a range of $500M-$600M, even after investing in our two new manufacturing facilities...Collectively through 2020, we expect revenue to grow at a rate of 1 to 2 times GDP, which combined with an approximate 500 basis point expansion in Adjusted EBITDA margin, will provide a magnified return on the bottom line. Together with our announced capital allocation strategy, we expect to grow our Adjusted EPS by 15 percent or greater through 2020 on a compounded annual basis over 2017. Further, our strong financial performance is expected to generate cumulative Free Cash Flow within a range of $2B-$2.75B through 2020."

01

Dec

CCChemours

$50.95

-0.45 (-0.88%)

08/04/17

JPMS

08/04/17NO CHANGETarget $55JPMSOverweight

Chemours price target raised to $55 from $50 at JPMorgan

JPMorgan analyst Jeffrey Zekauskas upped his price target for Chemours to $55 citing his "sharply raised" earnings and EBITDA estimates following the company's Q2 results. The analyst keeps an Overweight rating on the shares.

08/07/17

UBSW

08/07/17UPGRADETarget $50UBSWNeutral

Chemours upgraded to Neutral from Sell at UBS

UBS analyst John Roberts upgraded Chemours to Neutral and raised his price target for the shares to $50 from $36 after the company in Q2 beat his expectations on cost cutting and fluoroproducts growth. He says Chemours' execution has disproved his prior concerns.

08/07/17

08/07/17UPGRADE

On The Fly: Top five analyst upgrades

Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Deere (DE) upgraded to Conviction Buy from Buy at Goldman Sachs. 2. Chemours (CC) upgraded to Neutral from Sell at UBS with analyst John Roberts saying Chemours' execution has disproved his prior concerns. 3. BP (BP) upgraded to Overweight from Neutral at Piper Jaffray with analyst Guy Baber saying the company's cash flow generation is in the early stages of a "multi-year positive inflection" while Macondo headwinds are subsiding. 4. L3 Technologies (LLL) upgraded to Conviction Buy from Buy at Goldman Sachs with analyst Nosh Poponak saying he favors increased exposure to Defense given the current industry cycle position, geopolitics, and Department of Defense budget dynamics. 5. Illumina (ILMN) upgraded to Buy from Hold at Canaccord with analyst Mark Massaro saying he sees a strong upgrade cycle for NovaSeq beginning in the tird quarter and lasting for three years. He believes we remain in the early innings on major waves of cancer growth and expects the continuation of robust growth of direct to consumer products, such as 23andMe, ancestry.com and now Helix. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

09/12/17

SBSH

09/12/17NO CHANGETarget $59SBSHBuy

Chemours' Opteon refrigerant story still underappreciated, says Citi

After hosting investor meetings with management, Citi analyst P.J. Juvekar says Chemours' Opteon refrigerant story remains underappreciated as the company has yet to define the market size for various end-market applications. Investors are still trying to gauge the upside from Opteon, Juvekar tells investors in a research note. The analyst adds that CEO Mark Vergnano "seemed quite confident" the company would be able to negotiate successfully with NCDEQ and that the TiO2 cycle is moving in the right direction. Juvekar reiterates a Buy rating on Chemours with a $59 price target.

AT&T Mobility has reached a tentative agreement with the Communications Workers of America in Mobility Orange contract negotiations. The four-year agreement, which will be submitted to the union's membership for a ratification vote in coming days, covers about 20,000 employees in 36 states and the District of Columbia - AT&T's Mobility Orange unit, which encompasses CWA Districts 1, 2-13, 4, 7 and 9.

Pfizer announced that the United States FDA has approved IXIFI, a chimeric human-murine monoclonal antibody against tumor necrosis factor, as a biosimilar to Remicade for all eligible indications of the reference product. The FDA has approved IXIFI as a treatment for patients with rheumatoid arthritis, Crohn's disease, pediatric Crohn's disease, ulcerative colitis, ankylosing spondylitis, psoriatic arthritis, and plaque psoriasis.

Western Alliance Bancorporation announced that during the first quarter of 2018 Robert Sarver will transition from Chairman and CEO to Executive Chairman. In conjunction with Sarver's change in role, Ken Vecchione will be promoted to Chief Executive Officer, Dale Gibbons to Vice Chairman and Chief Financial Officer, and James Haught to President and Chief Operating Officer, all effective April 1, 2018.

Aqua America announced that President and CEO Christopher H. Franklin has been elected chairman of the board, effective Jan. 1, 2018. Franklin became CEO in July 2015 and has served on the board of directors since October 2015. He succeeds Nicholas DeBenedictis, former CEO, who will continue to serve on the board as chairman emeritus.